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Automotive News Headlines - Yahoo! News

Automotive News Headlines - Yahoo! News
  • Samsung Electronics buys $450 million stake in Chinese electric car firm BYD

    The logo of Samsung Electronics is seen at its headquarters in SeoulSamsung Electronics is to pay 3 billion yuan ($450 million) for a stake in Chinese automaker and rechargeable batteries firm BYD Co Ltd , the Chinese company said in a stock exchange filing on Thursday. The Samsung investment has been made through Chinese subsidiary Shanghai Samsung Semiconductor and gives the Korean firm a 1.92 percent stake in BYD, making it the ninth largest investor in the company. Samsung Electronics said last week it was in talks to acquire a stake in BYD to boost its automotive chip business, after the Korea Economic Daily first reported that Samsung had agreed to buy a stake.

  • Takata air bag data manipulation widespread, says Honda

    Women walk past a logo of Takata Corp on its display at a showroom for vehicles in TokyoTOKYO/WASHINGTON (Reuters) - Takata Corp had engaged in widespread manipulation of test results for air bag inflators supplied to Honda Motor Co , according to an audit, the automaker said, but the review had shown no safety risks in cars not already recalled. Honda said the audit of all Takata-made inflators began in October 2015 after its own review had suggested that Takata misrepresented and manipulated test data for airbag inflators which had ruptured with excessive force, causing metal and plastic shards to spray into vehicle compartments. The audit for Takata was led by Brian O'Neill, the former president of the Insurance Institute for Highway Safety, a U.S. automotive testing group, Honda said.

  • U.S. regulators probe Fiat Chrysler vehicle sales

    A woman walks past a logo of Fiat Chrysler Automobiles (FCA) in Turin(Reuters) - U.S. regulators are investigating whether Fiat Chrysler Automobiles NV had inflated vehicle sales figures, the company said Monday, following a lawsuit by Illinois dealers in January. The U.S. Securities and Exchange Commission and the Department of Justice are probing the way the Italian-American automaker reports vehicle sales to individuals, rental fleets and other end users, the company said in a statement. In the civil lawsuit, two Chicago-area dealerships of the Ed Napleton Automotive Group accused Fiat Chrysler officials of pressuring dealers to falsify sales reports.

  • Indian court orders older diesel vehicles off New Delhi's roads
    By Tommy Wilkes and Sankalp Phartiyal NEW DELHI (Reuters) - India's top environmental court on Monday ordered authorities to remove all diesel vehicles at least 10 years old off the capital city's streets in a bid to help clean New Delhi's polluted air. The ruling is the latest in a series of court-issued orders targeting the automotive industry's role in polluting Delhi's air, which the World Health Organisation said in May was the world's 11th dirtiest. Under the order, effective immediately, the National Green Tribunal (NGT) directed the Delhi transport authority to cancel the registration of all diesel-powered vehicles produced at least 10 years ago.

  • Samsung Electronics seeks stake in China electric carmaker BYD

    The logo of Samsung Electronics is seen at its headquarters in SeoulBy Hyunjoo Jin SEOUL (Reuters) - South Korean technology giant Samsung Electronics Co Ltd on Friday said it is in talks to acquire a stake in Chinese automaker BYD to boost its chip business for electric cars. In December, Samsung Electronics, the world's top maker of smartphones and memory chips, created a team to develop automotive-related businesses, seeking a new growth engine as the global smartphone industry is slowing. "The latest investment aims at strengthening electric vehicle parts and smartphone parts businesses for the two companies," Samsung said in a statement.

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